Buyer Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting Buyer:
(i) Buyer fails to pay (with respect to a Monthly Xxxx or a Supplementary Xxxx), subject to Article 10.5, for a period of ninety (90) days after the Due Date and the SPD is unable to recover the amount outstanding to the SPD through the Letter of Credit,
(ii) Buyer repudiates this Agreement and does not rectify such breach even within a period of sixty (60) days from a notice from the SPD in this regard; or
(iii) except where due to any SPD’s failure to comply with its obligations, Buyer is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by Buyer within sixty (60) days of receipt of notice in this regard from the SPD to Buyer; or if • Buyer becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty (60) days, or • any winding up or bankruptcy or insolvency order is passed against Buyer, or • Buyer goes into liquidation or dissolution or a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided that it shall not constitute a Buyer Event of Default, where such dissolution or liquidation of Buyer or Buyer is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to Buyer and expressly assumes all obligations of Buyer and is in a position to perform them; or;
(iv) If Buying Entities are subject to any of the above defaults and SECI does not designate another or other Buying Entities for purchase of power.
(v) Occurrence of any other event which is specified in this Agreement to be a material breach or default of Buyer.
Buyer Event of Default. The failure of Buyer Agent to promptly redeliver the Original Note to Seller or its agent when and as required pursuant to Paragraph 7 of this Annex I (it being understood, for the avoidance of doubt, that such redelivery obligation is subject to (i) Seller’s payment in full of the Repurchase Price with respect to the applicable outstanding Transaction without application of any set off or netting and (ii) Buyer Agent’s rights pursuant to Paragraph 11(d) of the SIFMA Master (as amended by this Annex I) to sell, dispose of or otherwise exercise remedies with respect to the Purchased Securities in connection with an Event of Default with respect to Seller) shall be an Event of Default with respect to Buyer. Upon the occurrence of any such Event of Default, Buyer Agent shall be liable to Seller for the amount of all reasonable legal or other expenses incurred by Seller and/or Cofina in connection with or as a result of such Event of Default and any other loss, damage, cost or expense directly arising or resulting from the occurrence of such Event of Default, including, without limitation, any costs incurred to recover the Original Note and any damages resulting from Buyer Agent, Buyers or another party acquiring the Original Note or presenting such Original Note to Cofina for payment. In the event of an Event of Default with respect to Buyer, Seller shall have, in addition to its rights hereunder, any rights otherwise available to it under any other agreement or applicable law.
Buyer Event of Default. A “Buyer Event of Default” shall be deemed to exist upon the occurrence and during the continuance of any one or more of the following events: (i) Buyer breaches a material term of this Agreement, and such breach is not cured within 60 Days following written notice from Seller; or (ii) Buyer fails to pay any amount due under this Agreement in full within 60 Days of the due date of such payment, subject to Section 17.13.
Buyer Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the WPD of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting Buyer:
(i) Buyer fails to pay (with respect to a Monthly Xxxx or a Supplementary Xxxx), subject to Article 10.5, for a period of ninety (90) days after the Due Date and the WPD is unable to recover the amount outstanding to the WPD through the Letter of Credit,
(ii) Buyer repudiates this Agreement and does not rectify such breach even within a period of thirty (30) days from a notice from the WPD in this regard; or
(iii) except where due to any WPD’s failure to comply with its obligations, Buyer is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by Buyer within thirty (30) days of receipt of notice in this regard from the WPD to Buyer; or
(iv) if • Buyer becomes voluntarily or involuntarily t h e subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of thirty (30) days, or • any winding up or bankruptcy or insolvency order is passed against Buyer, or • Buyer goes into liquidation or dissolution or a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, Provided that it shall not constitute a Buyer Event of Default, where such dissolution or liquidation of Buyer or Buyer is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations u n d e r this Agreement and has creditworthiness similar to Buyer and expressly assumes all obligations of Buyer and is in a position to perform them; or;
(v) occurrence of any other event which is specified in this Agreement to be a material breach or default of Buyer.
Buyer Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the WPD of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting Buyer:
(i) Buyer fails to pay (with respect to a Monthly Xxxx or a Supplementary Xxxx), subject to Article 10.5, for a period of ninety (90) days after the Due Date and the WPD is unable to recover the amount outstanding to the WPD through the Letter of Credit,
(ii) Buyer repudiates this Agreement and does not rectify such breach even within a period of sixty (60) days from a notice from the WPD in this regard; or
(iii) except where due to any WPD’s failure to comply with its obligations, Buyer is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by Buyer within sixty
Buyer Event of Default. The term shall have the meaning set forth in Section 10.2.
Buyer Event of Default. The occurrence of any one or more of the following events shall constitute an event of default by Buyer hereunder (each, a "Buyer Event of Default"): Buyer becomes insolvent, or generally does not pay its Debts as they become due, or admits in writing its inability to pay its Debts, or makes an assignment for the benefit of creditors or insolvency, receivership, reorganization or bankruptcy proceedings are commenced by Buyer; and such proceedings are not terminated, stayed or dismissed within sixty (60) days after the commencement thereof; Buyer fails to make payment of any amount when due (other than amounts disputed in good faith) as required to be made by Buyer to Seller, which failure continues for sixty (60) days after notice of such non-payment is given by Seller to Buyer; Any representation or warranty made by Buyer herein was false or misleading when made and such false or misleading representation by Buyer has or with lapse of time will have a material and adverse effect on Seller's ability to perform its obligations under this Agreement, including Seller's ability to perform the Work; or Buyer fails to perform or observe any of its obligations under this Agreement not otherwise specifically addressed in this Section 18.4, and such failure continues for thirty (30) days after notice is given by Seller to Buyer, except that such thirty (30) day cure period shall be extended if (i) curing such failure reasonably requires more than thirty (30) days; (ii) Buyer commences such cure within such thirty (30) day period and diligently prosecutes such cure; and (iii) such cure is accomplished within sixty (60) days after the date on which Buyer first receives a notice from Seller with respect thereto.
Buyer Event of Default. A Buyer Event of Default shall occur under this Agreement upon the occurrence of any of the following events (severally “Buyer Event of Default” and collectively “Buyer Events of Default”, and together with Seller Event of Default, individually and collectively “Event of Default” and “Events of Default”):
(a) Buyer shall have failed to pay, when due, any rent, fee, charge or obligation of Buyer requiring the payment of money under the terms of this Agreement within thirty (30) days from receipt of notice from Seller of such past due amount; or
(b) A court shall have made or entered any decree or order: (i) adjudging Buyer to be bankrupt or insolvent; (ii) approving as properly filed a petition seeking reorganization of Buyer or an arrangement under the bankruptcy laws or any other applicable debtor’s relief law or statute of the United States or any state thereof;
Buyer Event of Default. (i) In the event of an uncured Buyer Event of Default, not excused by Force Majeure, Developer agrees to give written notice to Host and Host shall have a period of sixty (60) days after receipt of said notice to cure such default, provided however, that Host shall have an additional reasonable period of time thereafter not to exceed thirty (30) days to cure the Buyer Event of Default if Host uses Commercially Reasonable efforts to cure such Buyer Event of Default during the initial sixty (60) days after notice aforesaid, and Host provides reasonable written assurances that it will be able to cure such Buyer Event of Default within such a reasonable period of time thereafter.
(ii) In the event that Host elects not to step in or fails to cure such Buyer Event of Default, Developer shall be entitled to terminate this Agreement and the Lease and shall also be entitled to exercise its legal and equitable remedies, and/or, notwithstanding anything in Article XII, collect damages from the Buyer, which damages shall include, but not be limited to, the value of anticipated future net revenues, including revenues attributable to Environmental Attributes, through the end of the Term if payments had continued under this Agreement absent the Buyer Event of Default. Such damages shall be subject to Developer’s and the Buyer’s duties to mitigate.
(iii) Developer shall have the right to suspend delivery of Net Energy hereunder during the continuance of a Buyer Event of Default.
Buyer Event of Default. The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the WPD of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting Buyer:
